Chinese aviation industry profits shrink

May 8th, 2012 - 12:40 pm ICT by IANS  

Beijing, May 8 (IANS) The revenues of China’s aviation industry, including airline companies and airports, grew by 21.2 percent year-on-year in 2011 but the overall profits dropped.

The revenues reached 500.1 billion yuan ($79 billion) while the profits fell by 13.9 percent year-on-year in the same period to 36.3 billion yuan, the Global Times reported tuesday.

Specifically, airlines and airports in China saw their annual profits fall by 17.7 percent and 16.8 percent year-on-year respectively in 2011, according to the Civil Aviation Administration of China.

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